India Jumps 16 Places to Become the 39th Most Competitive Economy in the World

India has climbed quickly among all global economies to occupy the 39th spot during the past year in the World Economic Forum’s (WEF) Global Competitiveness Index. According to WEF, it is the second year in a row that India has gone up 16 ranks in the WEF index.

“Thanks to improved monetary and fiscal policies, as well as lower oil prices, the Indian economy has stabilised and now boasts the highest growth among G20 countries. Recent reform efforts have concentrated on improving public institutions, opening the economy to foreign investors and international trade, and increasing transparency in the financial system.” said the report.

Switzerland, Singapore and the US remain the world’s most competitive economies.